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Posted by on Sep 24, 2011 in Economy, TG Roundup

Mark Faber on QE3, China, Greece, and Banks (Must Listen)

Marc Faber is a well known investor. To the best of my knowledge, he is the only one who has bee consistently correct in foreseeing every major turn in every major economy in the world. His timing is also very good. He spoke to Reuters on Sept 22. Watch the video here, or if doesn’t work, listen to it via podcast.
Part 1:
Part 2:

Quotes from the interview:

You don’t need the Fed to tell you that something is wrong.

…at least this time around, Mr. Bernanke did the right thing […and…] what they said yesterday is better than what they’ve said for the last 12 years.

…if the S&P drops to around 900-950, we’ll get QE3 for sure…

I’m not selling my gold because I think in the long run, they will print money

I don’t know anyone who owns Greek bonds. But who owns them? The ECB and European banks.

The banks, the problem is that they’re not run as banks where they have a fiduciary duty…They take the capital and go and gamble left, right and center.

They should default.

The Greek people in Greece, the only way for them to survive economically, half way decently is to leave the EU.

…countries like Greece and probably Portugal will leave the EU, or the strong countries like Germany will leave the EU and then there’ll be dual

You can also also listen to the interview snippets in the audio below (intro in Telugu).